SpeechSwitch, Inc. (USOTC: SSWC) Progress Report
August 31 2010 - 11:40AM
Marketwired
Ken Glynn, President of SpeechSwitch, Inc. (PINKSHEETS: SSWC),
reported today that the Company is making progress in many areas,
as follows:
(1) Retail Sales: The Company met with one of the owners of the
Shoppes at Flemington regarding the progress of the GREENSMARTâ„¢
retail store at that location. Due to the delays in advancing the
finishing work and fit-out at the current location at that mall,
the store would not be completed for about five to six months. This
was unacceptable and resulted in favorable renegotiations for
SpeechSwitch. The parties agreed that the current binder be
modified to allow the Company to take a similar space three doors
down from the original location. Ken stated that "this gives us
completed space with reduced fit-out costs, gets us open three to
four months sooner, and at a reduced rent. Also, because we sell
iPhone Solar Rechargers and AT&T sells iPhones, we are very
happy to be one door way from AT&T at this new location. We
should be opening the store by mid-November instead of February.
This opens up the Christmas market for 2010 to us and should have a
significant impact on our end of year bottom line."
(2) Photovoltaic Installations: The Company has negotiated with
solar panel installers to work through SpeechSwitch reps and
GREENSMARTâ„¢ store presentations for the sale and installation of
home, office and commercial solar panel systems.
(3) Cancer Drug Delivery System Patent Portfolio Development:
The Company has completed the proposed product risk analysis and
preliminary history on the now patented advanced liquid drug
delivery system for chemotherapy and other drugs, and has engaged
an FDA consultant to develop an FDA 510K application. Part of the
process will involve advancing from demonstrative prototypes to
production prototypes.
(4) Other: The sales team will provide a monthly update
beginning next week for August and significant sales progress is
anticipated.
Information set forth in this press release contains various
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. The Private Securities Litigation reform Act
of 1995 (the "Act") provides certain "safe harbor" provisions for
forward-looking statements. The reader is cautioned that such
forward-looking statements are based on information available at
the time and/or management's good faith belief with respect to
future events, and are subject to risks and uncertainties that
could cause actual performance or results to differ materially from
those expressed statements. Forward-looking statements speak only
as of the date the statement was made. We assume no obligation to
update forward-looking information to reflect actual results,
changes in assumptions or changes in other factors affecting
forward-looking information. Forward-looking statements are
typically identified by the use of terms such as "anticipate,"
"believe," "could," "estimate," "expect," "intend," "may," "might,"
"plan," "predict," "project," "should," "will," and similar words,
although some forward-looking statements are expressed differently.
Although we believe that the expectations reflected in such
forward-looking statements are reasonable, we can give no assurance
that such expectations will prove to be correct.
Contact: Ken Glynn 908 788 0077